The global construction market is forecasted by GlobalData to grow by 1.8% in real terms in 2024, having grown by 1.7% in 2023. While the residential construction market in many countries will decline, this will be offset by high growth in the infrastructure sector, with output rising by 8.3% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Driving growth in the market in 2022 and over the remainder of the decade are a potential 135 mega hydroelectric projects, costing over $100m each. Here are the largest manufacturing plant construction projects initiated globally in Q4 2024, according to GlobalData’s construction projects database.
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1. Shanghai C919 Assembly Plant Phase II
The project involves the construction of the Phase II of Comac C919 assembly plant with a 330,000m2 gross floor area (GFA) in Shanghai, China.
Construction work started in Q4 2024 and is expected to be completed in Q1 2027.
2. Butibori Integrated Solar and Photovoltaic Modules Manufacturing Plant
The project involves the construction of an 5GW integrated solar cells and 3GW photovoltaic modules manufacturing plant in Nagpur, Maharashtra, India.
Construction work commenced in Q4 2024 and is expected to finish in Q4 2027.
3. Hefei Medium and Low Voltage Power Module Production Base
The project involves the construction of a medium and low-voltage power module production base in Feixi Economic Development Zone, Hefei, Anhui, China.
Construction work started in Q4 2024 and is forecast to complete in Q4 2026.
4. Zhuhai Yiyuan Semiconductor Materials Industrial Base
The project involves the construction of a semiconductor material industrial base on a site area of 17.80 ha in Jinwan District, Zhuhai, Guangdong, China.
Construction work commenced in Q4 2024 and is expected to be completed in Q4 2027.
5. Jawor Electric Vehicle Manufacturing Plant
The project involves the construction of an electric vehicle manufacturing plant in Lower Silesian Voivodeship, Poland.
Construction work started in Q4 2024 and is expected to be completed in Q4 2026.
The purpose of the project is to meet the demand for electric vehicles in the region. Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
